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Changes over time for: Cross Heading: Professional integrity and independence
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Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 06/04/2008
Status:
Point in time view as at 05/12/2005.
Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1989, Cross Heading: Professional integrity and independence.
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Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Professional integrity and independenceE+W+S
7(1)The body must have adequate rules and practices designed to ensure—
(a)that company audit work is conducted properly and with integrity, and
(b)that persons are not appointed company auditor in circumstances in which they have any interest likely to conflict with the proper conduct of the audit.
[(1A)The body must participate in arrangements within paragraph 17, and the rules and practices mentioned in sub-paragraph (1) above must include provision requiring compliance with any standards for the time being determined under such arrangements.]
(2)The body must also have adequate rules and practices designed to ensure that no firm is eligible under its rules for appointment as a company auditor unless the firm has arrangements to prevent—
(a)individuals who do not hold an appropriate qualification, and
(b)persons who are not members of the firm,
from being able to exert any influence over the way in which an audit is conducted in circumstances in which that influence would be likely to affect the independence or integrity of the audit.
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